Source: Fred Olsen
Dolphin Drilling Ltd, a subsidiary of Fred. Olsen Energy ASA (OSE:FOE), has entered into a Letter of Intent for the provision of the semisubmersible Blackford Dolphin for drilling of one well offshore Brazil.
Commencement is scheduled late in the fourth quarter 2011, with an estimated duration of total 135 days, of which some 118 days will be in continuation of the existing Reliance contract.
Total contract value is approximately US $47 million. The contract remains subject to final contract agreement, partner and management approval which are anticipated to be closed within end May.
The Blackford Dolphin semisubmersible drilling rig is capable of working in waters up to 7,000 feet deep and drilling to a depth of 30,000 feet.